Demonetisation: Automobile showrooms in Dehradun come under income tax scanner

The department is in the process of issuing notices to automobile dealers. They will be asked about the sales details of both high-end cars and other vehicles post November 8 to track money-launderers.Yogesh Kumar | TNN | December 22, 2016, 13:08 IST

DEHRADUN: After the jewellery purchases, the Income Tax (I-T) department is now shifting its focus on the automobile sector to unearth the black money, which the sleuths believe was used in purchasing vehicles after the November 8 demonetisation.

The department is in the process of issuing notices to automobile dealers. They will be asked about the sales details of both high-end cars and other vehicles post November 8 to track money-launderers.

The list of other big showrooms in Haridwar and Roorkee is also being prepared by the department.

I-T sleuths believe that scrapped notes worth lakhs of rupees might have been used to purchase cars after November 8 demonetisation.

“There is a concrete information that many buyers used scrapped notes to buy new cars in Dehradun and other places. The sales records of the dealers would be scrutinised to track the buyers based in the state or outside the state,” said an IT official on the condition of anonymity.

I-T sources told TOI on Wednesday that the notices would be sent this week.

“The individual buyers, who have made cash payments, will also be issued notices to explain the source of the money,” said the official.

To make water-tight cases against the money launderers, the I-T sleuths are planning to scan the cash deposits details of the automobile dealers after November 8 and also the bank transactions of the buyers.

“It will help in tallying the payments of the vehicle purchases and the exact collection of the demonetised currency from the sales,” said the IT official.

Meanwhile, to track the black money in the Jan Dhan accounts, the I-T department has sent 400 notices.

“Our teams are sending notices to the account holders. The owners will have to explain the source of income or face action as per I-T rules,” said the official.